#Bitcoin & High Yield Credit 📊 🌊 Credit spreads remain deeply suppressed across traditional markets. The macro backdrop continues to support structural risk-on expansion for $BTC . 📍 The indicator currently reads 2.68, sitting comfortably below the 3.5% Normal threshold. Zero signs of systemic credit stress are present on the chart. 💡 Historically, compressed spreads fuel sustained institutional inflows. As long as this metric avoids spiking toward 5%, macro tailwinds remain intact.